Finance Act 1937

1. Introductory Text

2. PART I Customs and Excise

   1. 1. Continuation of duty on hops, and c, and of additional duty and drawback on beer

   2. 2. Extension of period of stabilisation of rates of Imperial preference

   3. 3. Provisions for fulfilling agreement with Canada

   4. 4. Provisions as to exemption of sculptures, and C, from import duties

   5. 5. Repeal of male servant duty, and effect thereof on game licence duty

   6. 6. Regulation of sale of sweets by holders of off-licences

   7. 7. Amendment as to unladen weight of goods vehicles

   8. 8. Reduction of duty on certain tricycles

   9. 9. Reduction of duty on tower wagons

3. PART II Income Tax

   1. 10. Income tax for 1937-38

   2. 11. Higher rates of income tax for 1936-37

   3. 12. Prevention of avoidance of tax by certain transactions in securities

   4. 13. Amendment as to relief in respect of losses

   5. 14. Amendments of 12 and 13 Geo. 5. c. 17, s. 21

   6. 15. Allowance for depreciation of mills, factories, and c

   7. 16. Continuance of allowance for repairs under 13 and 14 Geo. 5. c. 14, s. 28

   8. 17. Amendment as to allowance in respect of earned income of wives

   9. 18. Amendment as to discount on tax paid in advance

4. PART III National Defence Contribution

   1. 19. Charge of national defence contribution

   2. 20. Computation of profits and accounting periods

   3. 21. Exemption and abatement in respect of minimum profits

   4. 22. Provisions as to subsidiary companies

   5. 23. Special provision as to building societies

   6. 24. Assessment, collection, appeals, and c

   7. 25. Deduction of national defence contribution in computing liability to income tax

5. PART IV National Debt

   1. 26. Provisions as to permanent annual charge for the National Debt

   2. 27. Amendment as to deficit for 1936-37

   3. 28. Advertisement of applications for unclaimed stock, dividends and other moneys

   4. 29. Amendment as to stock certificates

6. PART V Miscellaneous and General

   1. 30. Repeal of stamp duties on certain honours and dignities

   2. 31. Exemption from death duties in case of land transferred to National Trust

   3. 32. Fixed contribution to Exchequer from Post Office Fund

   4. 33. Amendments as to Government annuities

   5. 34. Short title, construction, extent and repeals

7. SCHEDULES.

   1. FIRST SCHEDULE

      UNITED KINGDOM—CANADA TRADE AGREEMENT

      1. ARTICLE 1.

      2. ARTICLE 2.

      3. ARTICLE 3.

      4. ARTICLE 4.

      5. ARTICLE 5.

      6. ARTICLE 6.

      7. ARTICLE 7.

      8. ARTICLE 8.

      9. ARTICLE 9.

      10. ARTICLE 10.

      11. ARTICLE 11.

      12. ARTICLE 12.

      13. ARTICLE 13.

      14. ARTICLE 14.

      15. ARTICLE 15.

      16. ARTICLE 16.

      17. ARTICLE 17.

      18. SCHEDULE I

      19. SCHEDULE II

      20. SCHEDULE III

      21. SCHEDULE IV

      22. SCHEDULE V

          1. PART I

      23. SCHEDULE V

          1. PART II

      24. SCHEDULE VI

      25. SCHEDULE VII

      26. LETTER No. 1.

          LETTER FROM CANADIAN SIGNATORY ON THE SUBJECT OF ZINC.

      27. LETTER No. 2.

          LETTER FROM CANADIAN SIGNATORY ON THE SUBJECT OF HOME CONSUMPTION DRAWBACKS.

   2. SECOND SCHEDULE

      Amendments of Game Licences Act, 1860 (23 & 24 Vict. c. 90)

   3. THIRD SCHEDULE

      Modification of Enactments Relating to Surtax on Undistributed Income of Certain Companies

      1. 1. Where by virtue of this Act a direction is given...

      2. 2. Subsection (3) of section eighteen of the Finance Act, 1928,...

      3. 3. In this Schedule any reference to a year of assessment...

   4. FOURTH SCHEDULE

      Adaptations of Income Tax Provisions as to Computation of Profits for Purpose of National Defence Contribution

      1. 1. The profits shall be taken to be the actual profits...

      2. 2. (1) Where a person carrying on a trade or business...

      3. 3. (1) There may be deducted in respect of any accounting...

      4. 4. The principles of the Income Tax Acts under which deductions...

      5. 5. The provisions of subsection (4) of section twenty-seven of the...

      6. 6. Where, in respect of any profits arising from a trade...

      7. 7. Income received from investments or other property shall be included...

      8. 8. Subject to the provisions of the last foregoing paragraph, the...

      9. 9. No deduction shall be made on account of liability to...

      10. 10. No deduction shall be made in respect of any transaction...

      11. 11. In the case of a trade or business carried on...

      12. 12. (1) In the case of a trade or business carried...

      13. 13. For the purpose of this Schedule— (a) the expression "...

      14. 14. Where the performance of a contract extends beyond the chargeable...

   5. FIFTH SCHEDULE

      Assessment and Collection of National Defence Contribution, Appeals and Supplementary Provisions

      1. PART I Assessment and Collection

         1. 1. The national defence contribution payable in respect of any chargeable...

         2. 2. Where two or more persons were carrying on the trade...

         3. 3. Where by virtue of the foregoing provisions of this Schedule...

         4. 4. Where any person liable to assessment under the foregoing provisions...

         5. 5. An assessment (including an additional assessment) may be made at...

         6. 6. The Commissioners of Inland Revenue may make regulations with respect...

      2. PART II Appeals

         1. 1. Any person who is dissatisfied with an assessment to the...

         2. 2. On any appeal under this Part of this Schedule, the...

         3. 3. The provisions of section one hundred and ninety-six of the...

         4. 4. The provisions of section one hundred and forty-nine of the...

         5. 5. Notwithstanding that an appeal is pending against an assessment to...

         6. 6. The Commissioners of Inland Revenue may make regulations with respect...

         7. 7. In this Part of this Schedule the expressions " the...

      3. PART III Supplementary Provisions

         1. 1. Any surveyor appointed for the purposes of the Income Tax...

         2. 2. Every person to whom a notice is given under the...

         3. 3. Where a body corporate is being wound up, the liquidator...

         4. 4. If any person without reasonable excuse contravenes or fails to...

         5. 5. In a bankruptcy, in the winding-up of a company, and...

         6. 6. All Commissioners and other persons employed for any purpose in...

   6. SIXTH SCHEDULE

      Enactments Repealed

      1. PART I Enactments relating to Income Tax Repealed as prom 6th April, 1937

      2. PART II Miscellaneous Enactments Repealed as from passing of Act

      3. PART III Enactments Relating to Male Servant Duty Repealed as from 1st January, 1938